Small U.S. banks see record drop in deposits after SVB collapse

Small U.S. banks see record drop in deposits after SVB collapse

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Deposits at small U.S. banks dropped by a record amount following the collapse of Silicon Valley Bank on March 10, data released on Friday by the Federal Reserve showed. Deposits at small banks fell $119 billion to $5.46 trillion in the week ended March 15. That was more than twice the previous…

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